Fed's Daly says she's watching what develops concerning rates

With Federal Reserve members meeting in September to consider the next move on interest rates, one member says she is in a "watch and see" mode.

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San Francisco Federal Reserve President Mary Daly on Thursday said she is assessing the need for another U.S. interest-rate cut.

Daly reiterated what others members including Chairman Jerome Powell, who have said the economy is strong, but there are headwinds to consider.

Among those issues are an overall global growth slowdown and the impact of the trade war going on between the U.S. and China.

Daly gave a speech in Wellington, New Zealand.

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Among the issues that she is watching are consumer confidence and consumer spending as well as inflation.

Daly supported last month's interest rate cut.